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Britain's Renishaw Q1 revenue jumps on strong demand in Far East
October 20, 2017 / 10:39 AM / a month ago

Britain's Renishaw Q1 revenue jumps on strong demand in Far East

Oct 20 (Reuters) - Precision engineering group Renishaw Plc posted a 26 percent rise in first-quarter revenue on Friday as demand for its precision measuring devices increased in manufacturing hubs like the Far East.

The company, which supplies products and services used in jet engines, wind turbines, dentistry and brain surgery, said revenue rose to 142.3 million pounds ($187.3 million) from 112.8 million pounds a year ago.

Pre-tax profit from continuing operations, on an adjusted basis, rose to 35.8 million pounds in the three months ended Sept. 30 from 15.1 million pounds a year earlier.

Renishaw said it remains confident of “good growth” in profit and revenue this financial year, it said in a statement.

In May, the company hiked its full-year revenue forecast to 520 million to 535 million pounds, from 500 million to 530 million pounds. ($1 = 0.7599 pounds) (Reporting By Justin George Varghese in Bengaluru; Editing by Savio D‘Souza)

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